ResMed Inc. (NYSE:RMD) Shares Bought by Strategic Global Advisors LLC

Strategic Global Advisors LLC increased its holdings in ResMed Inc. (NYSE:RMD) by 52.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,837 shares of the medical equipment provider’s stock after purchasing an additional 6,818 shares during the quarter. Strategic Global Advisors LLC’s holdings in ResMed were worth $4,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Avenue Securities LLC increased its holdings in shares of ResMed by 101.1% in the fourth quarter. Park Avenue Securities LLC now owns 4,431 shares of the medical equipment provider’s stock valued at $1,013,000 after buying an additional 2,228 shares in the last quarter. Occidental Asset Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $332,000. Merit Financial Group LLC purchased a new stake in shares of ResMed during the fourth quarter valued at $460,000. Brooklyn Investment Group lifted its holdings in shares of ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after purchasing an additional 68 shares during the last quarter. Finally, Integrated Investment Consultants LLC acquired a new position in shares of ResMed in the 4th quarter valued at $1,378,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. KeyCorp set a $274.00 price objective on shares of ResMed in a research note on Thursday, April 24th. UBS Group reduced their price target on shares of ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Morgan Stanley assumed coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.83.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total transaction of $439,480.00. Following the transaction, the director now directly owns 73,218 shares of the company’s stock, valued at $16,088,923.32. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the transaction, the chief executive officer now owns 455,503 shares in the company, valued at approximately $110,791,994.69. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,949 shares of company stock valued at $11,335,320 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

RMD opened at $251.75 on Friday. The stock has a fifty day moving average price of $225.34 and a 200 day moving average price of $234.17. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The stock has a market cap of $36.91 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $2.13 EPS. Analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s payout ratio is presently 23.79%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.